EU Parliament endorses BEFIT corporate tax framework
The European Parliament has approved Legislative Resolution No. P10_TA(2025)0268 on the Business in Europe Framework for Income Taxation (BEFIT) on 13 November 2025. The resolution introduces a unified framework for corporate taxation across the
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UK: HMRC clarifies which business expenses are deductible when calculating corporate tax
The UK’s HM Revenue & Customs (HMRC) issued guidance on 11 November 2025, explaining which business expenses companies can deduct when calculating their corporate tax. The guidance confirmed that businesses can deduct revenue expenses, also
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Finland: Parliament reviews amendments to permanent establishment income allocation rules
Finland’s Parliament is reviewing draft bill HE 164/2025 vp, which proposes amendments to domestic regulations on attributing profits to permanent establishments on 12 November 2025. The proposal suggests amending the Income Tax Act, the Act on
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Slovenia updates corporate income tax rules for investment funds
Slovenia has amended its Corporate Income Tax Act (ZDDPO-2V), with the changes published in the Official Gazette No. 85/2025 on 6 November 2025. The revisions introduce new provisions for investment funds and clarify rules for asset transfers and
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Malaysia: IRB issues guidance on taxation of asset-backed securitisations
The Inland Revenue Board of Malaysia has issued Public Ruling No. 3/2025 on 4 November 2025, clarifying the tax treatment of Asset-Backed Securitisation (ABS) transactions, including those related to sukuk structures. The ruling offers
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Singapore: Government presents second reading opening remarks on the Finance (Income Taxes) Bill
Singapore’s Senior Minister of State for Finance Jeffrey Siow has presented second reading opening remarks on the Finance (Income Taxes) Bill at the parliament on 6 November 2025. The Bill serves two main purposes: First, it updates the
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Zambia: MoF presents 2026 budget, promotes corporate investments in key sectors
Zambia’s Ministry of Finance and National Planning delivered the 2026 Budget Speech to the National Assembly on 26 September 2025, announcing a series of revenue measures aimed at strengthening domestic resource mobilisation, supporting small
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Taiwan clarifies rules for deductible corporate donations to Mainland China
The Taichung Branch of Taiwan’s National Taxation Bureau (Central Area) under the Ministry of Finance stated that, under Article 79 of the Regulations Governing Assessment of Profit-Seeking Enterprise Income Tax, profit-seeking enterprises must
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Singapore: IRAS issues guidance on foreign entity classification for tax
The Inland Revenue Authority of Singapore (IRAS) has published new guidance on the Classification of Foreign Entities for Singapore Income Tax Purposes on 30 October 2025. There are tax implications connected to the classification of a foreign
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Japan: Tax authorities publish updated corporate tax guide for 2025
Japan’s tax authorities released a detailed guide to corporate tax law and filing procedures on 1 October 2025. The guide explains how to calculate taxable income and outlines different types of taxpayers, including ordinary and public interest
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Ireland: Revenue updates guidance on treatment of business entertainment expense
Irish Revenue issued eBrief No. 197/25 updating its tax and duty manuals on entertainment expenses. TDM Part 05-03-02 has been renamed “Business Entertainment Expenses Incurred by Directors and Employees” and now includes content from the
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UK: HMRC updates SME R&D tax relief guidance
UK’s HM Revenue & Customs (HMRC) has updated its guidance on Research and Development (R&D) tax relief for small and medium-sized enterprises (SMEs). Updates on 13 October 2025 clarified how companies can meet the R&D intensity
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Taiwan: Tax Bureau clarifies making up past losses in undistributed earnings
RF Report HuWei Office, National Taxation Bureau of the Central Area, Ministry of Finance, Taiwan, stated, pursuant to Article 66-9 of the Income Tax Act, when a profit-seeking enterprise files its undistributed earnings, its surplus earnings can
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Poland: Council of Ministers approves bill reducing tax burden on copper, silver mining
Regfollower Desk Poland’s Council of Ministers adopted a draft act amending the Act on Tax on the Extraction of Certain Minerals, as well as certain other acts, on 28 October 2025. The new regulations introduce measures to reduce the tax burden
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Lithuania: MoF presents draft budget, expands list of corporate tax exempt entities
Lithuania’s 2026 draft Budget proposes halting the planned increase in CO2 excise duty on diesel and introducing a corporate tax exemption for the National Development Bank. Lithuania’s Ministry of Finance has presented the 2026 draft Budget
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Singapore updates guidance on deductible business expenses
IRAS updates business expense guidance, detailing new deductible and non-deductible items and clarifying rules for employee transport reimbursements. The Inland Revenue Authority of Singapore (IRAS) has revised its guidance on business expenses,
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Lithuania extends tonnage tax regime for shipping companies
The amendment specifically revises Article 381, paragraph 5, which governs the eligibility and application of this alternative corporate tax method. The Ministry of Transport and Communications of Lithuania published an amendment to its Corporate
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Turkey: Revenue Administration sets 2025 third-period revaluation rate
The third provisional tax period of 2025 in accordance with paragraph (B) of Article 298-bis of the Tax Procedure Law No. 213. The Turkish Revenue Administration issued Corporate Tax Law Circular No. 5520/70 on 16 October 2025, announcing the
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